The Japanese company has regained its place as the world’s best-selling automaker, with its latest results showing an edge over Volkswagen Group.
According to figures released on Thursday, Toyota sold 9.5 million vehicles worldwide in 2020, including its Daihatsu and Hino lineups. Volkswagen, which owns brands like Audi, Skoda and Porsche delivered 9.3 million units last year compared to Toyota.
Big carmakers have wrestled over the global crown for years. In 2013, Toyota became the top dog as it overtook General Motors in sales. After two years, Volkswagen gained on the Japanese company, but the top of the rankings didn’t change.
While it is good news for Toyota, it doesn’t signify that it is out of difficulties. Over the past year, the coronavirus pandemic brought a downfall in sales. It interrupted supply chains across the auto industry.
Toyota deliveries fell down 11.3% in 2020 compared to the previous year, while Volkswagen suffered a 15.2% decline.
Now, carmakers are suffering a critical shortage of semiconductors that affects production.
Volkswagen could lose out on the production of 100,000 units in the first three months of the year, or roughly 4% of global quarterly output, due to shortage of components.
The big carmakers are still making money.
Volkswagen stated last week that profits for 2020 reached $12 billion, pointing to a recovery in the next six months of the year.
The company also called attention to a slight boost in its share of the global passenger market and a considerable accretion in purchases of hybrids and electric cars.
Toyota has not yet publicised its full-year financial results for 2020.
The last time Toyota had the top position was in 2015, with VW squeeze it out in the following years.